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During this day, Edmundo Valladares, president of the Colo Colo Social and Sports Club, presented before the Constitution, Legislation and Justice Commission of the Senate the view of the club in relation to the bill that regulates Professional Sports Limited Companies.
In the instance, the boss of the CSD reviewed the financial situation of Black and White, giving account of the increase in the fiscal debt that in the year 2005 was $8.8 billion and today amounts to $13 billionwith losses totaling almost $11 billion.
On the other hand, he announced the financial present of the Social and Sports Club, which has had a significant increase and with positive numbers in recent years thanks to the growth in daily membership.
Valladares remarked that thanks to this participation of the members, the Club has managed to consolidate a social and sports project, where the operation of four sports branches stands out: futsal, volleyball, basketball Y skate race; in addition to an area of social development that has promoted initiatives such as “Hope Alba”the first football school for boys, girls and young people with disabilities in the country.
With this background, the helmsman of the Club maintained that “we believe that the example of social and sports clubs can allow a participatory, transparent, efficient administration that has a positive impact on society. That is why we have promoted this modification.”
“In our opinion, it is urgent and necessary that members and fans be allowed to acquire 51% ownership of the institutions. We believe that corporations should be allowed to manage football and professional sports and generate mechanisms so that they can also subscribe to share purchases and have preferences in the case of SA capital increases”, he indicated.
In addition, he stated that it is necessaryProhibit timeshare and participation in club ownership or management by player representatives. Also increase oversight and transparency, giving strength and mechanisms to do so to the National Sports Institute”.
The bill, which is currently in the second constitutional process, seeks to modify Law No. 20,019 that Regulates Professional Sports Limited Companies, in terms of control, conflicts of interest, and promotion of the participation of fans in their ownership (Bulletin No. 10.634-29).
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